INDUSTRIAL DRYER MARKET ANALYSIS | COHERENT MARKET INSIGHTS

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INDUSTRIAL DRYER MARKET ANALYSIS

• Industrial Dryer Market, by Product Type
  (Fluidized Bed Dryer (Batch, Continuous), Rotary
  Dryer, Spray Dryer, Flash Dryer, Vacuum Dryer and
  Other), by Operating Principle (Direct Drying and
  Indirect Drying), by End-use Industry (Food,
  Fertilizer, Chemical, Construction Material,
  Paper Pulp, Pharmaceutical and Others) and by
  Region (North America, Latin America, Europe,
  Asia Pacific, Middle East and Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020
  2027
• The global Industrial Dryer Market was accounted
  for US 2,929.7 Mn in terms of value and 2,648
  units in terms of volume in 2019 and is expected
  to grow at CAGR of 3.5 for the period 2020-2027.

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Market Driver

• Rising demand from pharmaceutical and food
  sectors is expected to drive growth of the global
  Industrial Dryer Market during the forecast
  period
• The quality of the product in the pharmaceutical
  industry is a major concern. This is also
  important due to strict government regulations
  over product quality and its specification in
  food and pharmaceutical industry. Generally,
  products in the industries are heat sensitive
  that require suitable devices for drying process.
  The technologically advanced industrial dryers
  such as vacuum dryers and fluidized bed dryers
  are suitable equipment for drying operation in
  food and pharmaceutical industry. Moreover, these
  dryers are suitable for other unit operations
  such as purification and separation involved in
  the industry. Thus, high growth of the
  pharmaceutical and food sectors is expected to
  drive growth of the global industrial dryer
  market in the near future. According to Coherent
  Market Insights analysis, there are over 450
  projects in the pharmaceutical industry and over
  300 projects in the food industry that are
  expected to be completed in the near future.

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• Increasing application of dryers in various
  sectors is expected to propel the global
  industrial dryers market growth over the forecast
  period
• Industrial dryers have witnessed a massive
  demand from various industry including
  healthcare, chemical, mining minerals,
  constructions, etc. Different types of industrial
  dryers are used such as vacuum dryer in
  biological products and food sector, fluidized
  bed dryer in fertilizer, pesticides, and
  ceramics, sprayer in antibiotics, vitamins, and
  catalyst support, and rotary dryers in
  fertilizers, waste sludge, limestone, plastics,
  and chemicals. Hence, the wide use of dryers is
  expected to propel the global industrial dryer
  market growth over the forecast period.

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Statistics

• Asia Pacific region is expected to dominate the
  global Industrial Dryer Market in 2019,
  accounting for 31.7 share in terms of value,
  followed by North America, Europe, Middle East
  and Africa and Latin America.
• Figure 1 Global Industrial Dryer Market Share
  () in Terms of Value, By Region, 2019

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Market Restraints

• High operational costs are expected to hamper
  growth of the global industrial dryer market
  during the forecast period
• The process of drying is energy-intensive
  regarding manufacturing a product. In industrial
  sector, it is estimated that drying process alone
  consumes around 10 to 20 energy relative to
  other unit operations involved in the industry.
  Furthermore, majority of industrial dryers are
  focused on operations that require hot air for
  drying, which is formed by the burning of fossil
  fuel. Burning of fossil fuel imparts additional
  operational costs in the drying process. Hence,
  these factors are expected to hamper the market
  growth in the near future.
• Strict environmental regulations are expected to
  hinder the global industrial dryer market growth
  over the forecast period
• There are various strict government regulations
  enforced across the globe including REACH, EPA,
  etc. Industrial dryers such as belt dryers and
  tray dryers are adopted by small industries since
  they are low cost although they are less
  efficient well. Hence, these factors are expected
  to hinder the global industrial dryer market
  growth over the forecast period.

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Market Opportunities

• High growth of food processing industry can
  present major business opportunities
• Food processing industry has expanded
  significantly in the recent past. Dryers can be
  used to prevent food spoilage by removing water
  from both preparation and processing of food
  products. Dryers can provide clean and dry air
  that can help extend product life and can assist
  in packaging, transporting and storing food
  products. Key companies in the market can
  capitalize on lucrative opportunities and gain
  significant advantages in the market.
• High growth of the pharmaceutical industry can
  pose significant growth opportunities
• The pharmaceutical industry deploys different
  types of industrial dryers including
  freeze-dryers, vacuum dryers, continuous-tray
  dryers, mixer dryers, etc. The pharmaceutical
  industry has expanded significantly in the recent
  past and as a result of this, there is a high
  demand for dryers. Key companies in the market
  can capitalize on lucrative opportunities and
  gain significant advantages in the market.

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• The global industrial dryer market was valued at
  US 2,929.7 Mn in 2019 and is forecast to reach a
  value of US 3,895.7 Mn by 2027 at a CAGR of 3.5
  between 2020 and 2027.
• Figure 2 Global Industrial Dryer Market Value
  (US Mn), 2016 - 2027

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Market Trends

• Rising adoption of superheated steam dryers is a
  major adoption
• Superheated steam dryers have witnessed
  significant massive adoption with industries
  demanding standards for intended drying
  applications. Higher operating costs associated
  with conventional drying processes resulted in
  growing emphasis on either improving drying
  process economics or on the development of
  alternative lower-cost processes. For instance,
  the GEA group offers Superheated Steam Dryer
  Processor for drying of oilseeds, beans, and
  proteins. Also, BMA AG offers a fluidized-bed
  steam dryer for drying of biomass, which can
  recover 90 of energy.
• Market consolidation activities worldwide
• Major companies in the market are focused on
  merger and acquisition activities, in order to
  enhance the market presence. For instance, in
  June 2016, ANDRITZ AG acquired Euroslot KDSS,
  including its two subsidiaries in China and
  India, which are involved in manufacturing of
  separation and filtration equipment. Moreover, in
  November 2016, HEINKEL Drying and Separation
  Group announced expansion of two of its workshops
  in Foshan, China, in order to increase its
  presence in the APAC market.

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Segment Information

• In global Industrial Dryer Market, by Operating
  Principle, Indirect Drying sub-segment dominated
  the global market in 2019, accounting for 77.7
  share in terms of value, followed by Direct
  Drying.

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Competitive Section

• Key players operating in the global industrial
  dryer market are Metso Corporation, Anivi
  Ingenieria SA, ThyssenKrupp AG, YAMATO SANKO MFG.
  CO. LTD., ANDRITZ AG, Wuxi Modern Spray Drying
  Equipment Co., Ltd, Buhler AG, Ventilex Inc., GEA
  Group, Comspain XXI S.A., Carrier Vibrating
  Equipment, Inc., FEECO International, Inc.,
  HEINKEL Drying and Separation Group, Mitchell
  Dryers Ltd., Spooner Industries Ltd, Changzhou
  Fanqun Drying Equipment Co. Ltd., and Changzhou
  Yibu Drying Equipment Co., Ltd.

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Key Developments

• Major companies in the market are involved in
  partnerships and collaborations, in order to
  enhance the market. For instance, in May 2016,
  the company entered into a long term service
  partnership agreement with TATA Chemicals Limited
  to restructure pyro-processing systems. The
  agreement includes repairing, rebuilding and
  modifying 7 calciners and 12 rotary dryers at the
  Green River, U.S. production facility.
• Key players in the market are focused on mergers
  and acquisitions, in order to gain a competitive
  edge in the market. In June 2015, ANDRITZ AG
  acquired Euroslot KDSS, including its two
  subsidiaries in China and India which are
  involved in the manufacturing of separation and
  filtration equipment

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